Power Affiliates 2025

Welcome to the EGR Power Affiliates 2025 rankings. To call the past 12 months an annus horribilis for the affiliate industry may be putting it lightly. A series of blows, in the form of Google updates, mass redundancies and slumping share prices have been serious knocks for the sector. And yet, there remains positives abound. A strong pipeline of M&A, best personified by Gambling.com Group’s move for Odds Holdings, which could reach $160m in value, shows the appetite for growth and land grabs remain as feverish as ever. And Gambling.com Group is one leading affiliate that has been able to emerge from the past year with barely a scratch, while its rivals have faced trepidation around every corner.

Staying on M&A, XLMedia has all but ceased to exist after it completed the sales of its European and Canadian assets to Gambling.com Group before shipping its US brands off to Sportradar in a deal worth $21m, marking the supplier’s breach into the traditional affiliate world. Gentoo Media, once known as GiG Media, snapped up some smaller assets, while Livesport, Traffic Lab and Game Lounge all gave the thumbs up to acquisition moves.

But while there has been growth, there has also been declines. Better Collective and Catena Media agreed to redundancies across their businesses, while a slowdown in US states legalising sports betting has seen the pipeline splutter rather than continue to surge. Missouri will launch the vertical later this year, which should provide a boost to full-year 2025 earnings, but this year’s legislative sessions in the US have yet to throw up a likely candidate to join the Show-Me State.

Meanwhile, the regulatory net continues to tighten in Europe and Brazil’s regulated market launch on 1 January has been less-than-spectacular for the affiliates live there. In fact, Better Collective said it is anticipating a 50% to 70% decline in Brazilian revenue-share income in the short term, along with a €30m to €50m impact on revenue and adjusted EBITDA before special items in 2025.

And with Google’s persistent meddling with its search parameters, which led to some significant blows last year, it is just another plate for affiliates to spin. What is clear, however, is that opportunities are presenting themselves. The soaring growth of DFS+, sweepstakes operators and prediction markets could open up a whole new set of customers for affiliates. The risk appetite of respective businesses to dip toes into regulatory murky waters could well come into play, here.

For the fifth year in a row, EGR has joined forces with accounting firm BDO to crunch the numbers to help guide the rankings. EGR and BDO have a longstanding relationship, with BDO having worked on several editions of the EGR Power 50 rankings. The firm acts as an impartial party to sift through financial data to inform a final position for companies that have made the list.

EGR would like to thank BDO for its continued collaboration in helping to compile these rankings and, of course, bet365 Partners for once again sponsoring this year’s editions of the Power Affiliates rankings.

Proudly sponsored by:

Neil Fairweather, chief marketing operations officer at bet365, said: “bet365 Partners is once again delighted to sponsor the EGR Power Affiliates list for 2025.

“A celebration of the most innovative, dynamic and collaborative brands in the industry, we congratulate them all and look forward to continuing our long-standing partnerships with all nominated.”

The Power Affiliates rankings are compiled in partnership with BDO, one of the world’s leading accountancy firms and a leading service provider to the online gaming sector.

1. Better Collective (1)
HQ: Denmark
Key executive: Jesper Søgaard
Access to financials: Yes

“As we close this chapter and look forward to 2025, I am incredibly confident about the future of Better Collective,” company CEO Jesper Søgaard said as the affiliate released its full-year 2024 earnings. That ‘chapter’ in the 21-year history of the Danish giant was one of its most tumultuous, which has seen the firm’s share price slip from as high as SEK303 last May to SEK109  at the time of writing. But still, the business, with its global reach, extensive brand portfolio and leading financial metrics remains king, despite the foundations of the kingdom having wobbled in the past 12 months.

The firm exited Q4 2024 with revenue up 13% year on year (YoY) to €96.2m, which was a significant positive given the previously communicated headwinds in Brazil and the US that resulted in a mass share sell-off. Those headwinds had seen Better Collective reduce its full-year 2024 guidance, and subsequently note it was prepping for a €50m hit in Brazil in 2025 following the market’s regulation. A cost-saving programme was implemented last year, resulting in more than 300 staff being made redundant, which bosses said could have a full effect of €50m this year. Those cuts, along with a scaling back on the M&A front, which has historically been the weapon of choice for growth, mean 2025 guidance was also trimmed. Although there was a €42m move for UK affiliate AceOdds in May 2024. Overall, Better Collective is bruised rather than battered, it seems. Adjusted EBITDA did come above revised expectations, with the market reacting well. Having led the Power Affiliates rankings for the past eight years, betting against the dual-listed firm could come back to bite detractors.

2. Gambling.com Group (2)
HQ: Ireland
Key executive: Charles Gillespie
Access to financials: Yes

While the rest of the affiliate sector has faced significant bumps in the road in 2024, Gambling.com Group bucked the trend, and even though the company remains in second place, the upward trajectory and momentum within the business is plain to see. A focus on igaming helped Q4 revenue jump 9% to $35.3m, while quarterly adjusted EBITDA soared 39%. And despite the fact the final three months of last year saw lower sports betting returns and a decline in first time depositers (FTDs), on a full-year basis, the P&L was looking strong. Revenue rose 17% to $127.2m and adjusted EBITDA surged 33% to $48.7m. Guidance for 2025 has set midpoint increases for revenue and adjusted EBITDA at 35% and 40%, respectively.

Those gains will be helped significantly by the $160m acquisition of Odds Holdings, the parent company of OddsJam, with Gambling.com Group shelling out an initial $80m. In fact, bosses anticipate the acquired firm to add $14.5m to adjusted EBITDA this year. That M&A move was preceded by a deal for XLMedia’s Europe- and Canada-facing assets, with a potential transaction value of $42.5m. But with the online sports betting state launch pipeline seemingly drying up, the drive into igaming will be key, as will plans to diversify revenue streams. One of which could be prediction markets, which CEO Charles Gillespie told analysts were a “clear, strong positive” for the Nasdaq-listed affiliate.

3. Gentoo Media (3)
HQ: Malta
Key executive: Jonas Warrer
Access to financials: Yes

Last year was a monumental one in the existence of Gentoo Media. A rebrand from its previous incarnation as GiG Media in June, followed by the long-awaited split from the GiG supplier arm into its own listed company, were significant milestones for the Malta-based affiliate. Add in two acquisitions, also announced in June, and 2024 was busy to say the least. Gentoo parted with €3m to snap up Casinomeister and followed that up with a €3.2m deal for SEO specialists Titan. Looking at Q4, the business reported yet another all-time high for revenue, up 38% YoY to €35.9m, with adjusted EBITDA rising from €10.9m to €14.3m. For FTDs, a focus on higher-value players saw the metric decline YoY, yet the actual value of the deposits jumped 27%. Bosses have stated there needs to be a revamp of Casinotopsonline, while Time2play’s US efforts have stalled due to a Google update. But, AskGamblers remains the jewel in the crown, and Casinomeister is also set for a “significant” refresh.

On the people front, the split business continues to be led by CEO Jonas Warrer, while former Deloitte Denmark head Mads Haugegaard Albrechtsen was named as CFO in February, replacing Tore Formo. Other key appointments included ex-Betsson figure Rui R Costa joining as head of content and a promotion for Paul Gatt to general counsel.

4. Clever Advertising (4)
HQ: Malta
Key executive: José Pedro Panzina 
Access to financials: Yes

A strong financial showing from privately owned Clever Advertising has seen the business maintain its position in the upper reaches of the Power Affiliate rankings. Data shared with BDO showed growth across revenue, EBITDA and profit compared to 2023, with the business retaining its focus on organic growth and refraining from sanctioning significant M&A. Instead, product and strategy plans included a new media partnership with UOL Apostas in Brazil, new global media buying plans and the launch of a sports quiz app. There was investment ploughed into a US-facing podcast and a revamp of US strategy, as the market continues to become a vital component of affiliates’ growth plans.

The company also continued to add to its growing workforce, with offices in Europe, the US and Brazil. Staying in Brazil, the Casas de Apostas brand is now front and centre of its corporate website, pointing to the efforts going into the recently regulated market. At the top of the business, there were no changes in what is now an established C-suite, although Tomás Rosado was named head of legal last May.

5. Spotlight Sports Group (5)
HQ: UK
Key executive: Mark Renshaw 
Access to financials: Yes

Back-to-back affiliate of the year wins at the EGR Operator Awards after retaining the title in October 2024 was a highlight in a strong year for the Racing Post parent company amid a rise in FTDs and product rollouts. The business championed its largest -ever affiliate revenue in a single year for 2024, with expansion into new acquisitions channels and refinements to existing tools such as search-led generation cited as key drivers for growth. A rebranding of the subscription service to Racing Post+ in Q1 2025 came after launching the product under the Members’ Club guise in Q4 2023.

Other products include the Smart View card for horseracing and deeper integration of signup offers across all facets of the customer journey. Over in the US, the Pickswise brand continues to track well for US sports and has averaged significant numbers of monthly users over the past 12 months, ranking well for searches across the NFL and MLB. Back on home turf in the UK, a commitment to safer gambling remains a key USP, while the Racing Post’s readership and views continue to trend upwards.

6. FairPlay Sports Media (8)
HQ: UK
Key executive: Stuart Simms 
Access to financials: Yes 

A busy 12 months sees the oddschecker parent company retain its top 10 position, with a series of product launches and group changes making headlines since last year’s Power Affiliates rankings. FairPlay Sports Media completed the full integration of AI firm Quarter4, which it acquired in 2024, and subsequently launched its FairPlay AI division to sit within the newly created FairPlay Technologies arm. The division forms part of CEO Stuart Simms’ BetTech vision, which he explained to EGR was shifting revenue split to include licensed tech and services. A subscription model was also unveiled in the US and UK, to sit alongside the group’s traditional affiliate businesses and the Confido network.

The C-suite has also been shaken up over the past 12 months, with a new COO and CFO named in March. Former Playtech head Andrew Smith was appointed finance chief, while ex-Microsoft exec Jerome Underhill was drafted in as COO. Quarter4 co-founder Kelly Brooks, who had served as chief product officer following the acquisition, stepped down earlier this year following the full integration of the business.

7. Raketech (6)
HQ: Malta  
Key executive: Johan Svensson 
Access to financials: Yes

The last 12 months have been pretty tough for Raketech and returning CEO Johan Svensson, who took up the reins on a permanent basis for the second time last May after a five-month interim stint. Svensson, who also co-founded Raketech, previously led the business from 2010 to 2017 and stepped in following Oskar Mühlbach’s exit in January 2024. One of his first actions as CEO was selling off US tipster brand ATS Consultants for $2.25m in July, less than three years after acquiring the asset for $15.5m. The  Q4 earnings report described last year as “challenging”, with that commentary reflected in the P&L. Revenue in the last three months of the year slumped 45.9% YoY to €12.3m, with adjusted EBITDA down 46.2% to €3.2m. Non-cash impairments on non-core assets acquired before the firm went public meant Q4 operating losses came to €47.8m. A further review of the US online tipster and subscription business is due to complete soon, too.

In March, chair Ulrik Bengtsson announced he was stepping down after accepting the CEO role with South African operator Sun International. Raketech has commenced a search for a board replacement, who may also take on the chair position.

8. Traffic Lab (10)
HQ: Denmark
Key executive: Peter Gunni 
Access to financials: Yes

Last year marked a momentous milestone for Traffic Lab as the Danish company celebrated its 10^th anniversary, while its figurehead CEO and founder, Sebastian Agerskov, stood down. Agerskov stepped away from the frontline in June last year, citing a desire to prioritise his health and family, along with plans to work on new projects. In turn, Peter Gunni was promoted from chief commercial officer to lead the business, having previously served as chief marketing officer and head of social media. In November, Traffic Lab snapped up Swedish affiliate CasinoWings for an undisclosed fee to expand its presence in the Nordics, Japan, the UK and India. Some growth in figures shared with BDO show the business continues to tick along nicely, too. Finally, Claus Christensen was named chief SEO officer in January, moving up from head of SEO in the process.

9. Catena Media (7)
HQ: Malta
Key executive: Manuel Stan 
Access to financials: Yes 

Another affiliate with a new boss, former Kindred Group exec Manuel Stan was installed as Catena Media’s CEO from 1 July to permanently fill the gap left by Michael Daly in February 2024. It has been a baptism of fire for Stan, with Google updates having significantly hampered Catena’s operations. The business has also slimmed down considerably, after it shifted plenty of assets in the past 18 months, along with two redundancy rounds last year, with one in October impacting 29 staff. At the time, the Stockholm-listed firm said the cuts would save €2.2m a year as part of its transition to a “leaner, product-led organisation”. On the earnings front, it’s been tough to say the least. Q4 revenue was down 30% and NDCs shrunk 19% YoY. On a full-year basis, adjusted EBITDA plummeted a whopping 79% to just €5.4m. At the time, Stan said a focus on SEO, product and geographic expansion would pay off in the long-term, but would be “unsatisfactory” for short-term revenue.

In other blows, plans to develop an AI-based content generation platform was binned in January, while a non-cash impairment charge of €40m was set against specific sports betting and casino assets. A new chief legal and compliance officer in Liv Biesemans, and two new vice presidents added fresh blood to the senior team. But, Catena Media’s days as a leading light in the affiliate world now seem to be well and truly in the rearview mirror.

10. Flashscore (13)
HQ: Czechia
Key executive: Pavel Krbec
Access to financials: No 

The last 12 months for one of Europe’s largest sports betting affiliates included the biggest acquisition in its 19-year history, sealing its place in the latest Power Affiliates rankings in the process. 

In November, Flashscore purchased Spanish football-focused statistics, live score and news app BeSoccer for an undisclosed fee. The move increases what was already a significant international presence for Flashscore, with bosses anticipating the deal would bring an additional 25 million users to its customer base particularly in Spanish and French-speaking markets.

Though its financial performance was not revealed, it is not difficult to comprehend the sheer stature of the Prague-based company. Thanks in large part to its flagship Flashscore brand, the affiliate boasts more than 100 million users worldwide, alongside 16 billion impressions per month. Flashscore has expanded its offering to 47 countries, localising its app to enable access in 40 different languages.  

In the buildup to Euro 2024, Flashscore launched its own multimedia video production studio, spearheaded by chief digital content officer Alan Zaruba and based out of two studios at the affiliate’s Aspira headquarters in Nové Butovice. 

11. LiveScore Group (11)
HQ: Gibraltar 
Key executive: Sam Sadi 
Access to financials: Yes 

It was a busy, football-focused 12 months for Gibraltar-headquartered LiveScore, which remains one of the largest live scores apps around.

The firm was strengthened by a partnership with Warner Bros Discovery-owned TNT Sports. The deal saw the affiliate promote the network’s offering via several methods, including social content, line-up sponsorships and gameday push notifications. 

Ahead of Euro 2024, LiveScore launched ‘OnTarget’ in April, a new audience data platform granting advertisers “unparalleled” access to user interests via categories such as behaviours, purchase intent, lifestyles, demographics and more. Designed to enable campaign optimisation for LiveScore partners, the tool is powered by the affiliate’s in-depth, long-form audience research. 

Last summer’s European Championships also allowed LiveScore to roll out some product improvements, including ‘competition brackets’ and audio commentary within the app. 

November 2024 saw an internal restructuring that impacted more than 100 roles across the group, including some in its London HQ. 

12. OLBG (15)
HQ: UK 
Key executive: Richard Moffat
Access to financials: Yes 

It was another strong year for one of the UK’s most established affiliates, with several key financial metrics on the rise, marking OLBG’s continued upward trajectory. 

While there was no M&A activity to report, OLBG did add slots and bingo sections to its product offering, while refining its focus on the UK and Ireland. The affiliate was unveiled as front-of-shirt sponsor for Lions of Gibraltar Football Club in June as part of a multi-year deal, marking the firm’s first foray into football sponsorship. 

OLBG, which sees the majority of its sponsorship activity come via horseracing, also extended its deal with trainer Harry Derham, sponsoring his yard until 2030 after penning a five-year extension in March 2025. Furthermore, the business made multiple key hires across its brand, PR and content divisions. 

13. Game Lounge (22)
HQ: Malta
Key executive: Richard Dennys
Access to financials: Yes

After securing 22^nd spot in last years’ rankings, Malta-based Game Lounge worked to expand its footprint across Europe, in turn shooting up the list towards its top half. In November 2024, the company completed the acquisition of Two Kings Consultants BV, parent company of Dutch affiliate site Meneer Casino. The deal followed on from Game Lounge disposing of Betting.com, and forms part of the group’s region-focused approach, delivering locally refined products to consumers.

Led by CEO Richard Dennys, the boss has gone about revamping his top team in the past 12 months. Data chief Keith Cassar was named chief technology officer in May and sales VP Dredrik Langeland was appointed chief revenue officer in October, joining existing C-suite members COO Rosi Bremec and CFO Niki Zahra.

In terms of product development, Game Lounge’s AI prediction tool Pick Street was rebranded to Betlookr, expanding its capabilities beyond football to include American football in the process. Kiicker, a partnership platform aimed at putting publishers and operators together, was also pushed further to market. Game Lounge also showed its willingness to give back to the igaming industry with the launch of its GLX platform in December, designed to “nurture a portfolio of high-growth projects in key areas shaping the future of igaming”.

14. OneTwenty (18)
HQ: Ireland
Key executive: Chris Russell
Access to financials: Yes

For the third year running, the Waterford-based firm finds itself in the rankings. Increasing its audience from 16 million to 26 million users, alongside new depositing customers leaping, OneTwenty has continued to execute on its growth strategy. Market launches included BettingOdds.com in the Netherlands as well as Sweden and the UK. On top of that, the last 12 months saw several product launches, such as the RacingTips community group which now boasts over 20,000 active members, and the relaunch of football podcast Squawka with longtime operator partner bet365. Revenue, EBITDA and profit all increased from 2023 figures. The firm was bolstered in recent years by M&A, including snapping up Moneta Communications from Catena Media in 2023, although it avoided acquiring assets last year.

15. QiH Group (16)
HQ: UK
Key executive: Jamie Walters
Access to financials: Yes

Having jumped from 21^st to 16^th in last year’s rankings, QiH has followed that up with another move up the Power Affiliates rankings. The London-based company has bolstered its talent with four new C-suite hires, completing its top team. Starting with David Murphy from Lottoland as the affiliate’s new chief marketing officer last April, Andrew Lee was promoted from group operations director to the newly created COO position in the same month. This was followed by chief technology officer Sachin Saxena being appointed in September and CFO Simon Winder moving to the firm in November. The group currently employs over 60 people across its UK headquarters and operations centre in North Macedonia. Revenue, EBITDA and profit all increased from 2023 to 2024, as did FTDs. By the end of 2024, QiH was delivering more than 15,000 new customers a month to its partners through lead generation, paid media and paid search.

16. Skores (17)
HQ: France
Key executive: Christian de Caileux
Access to financials: Yes

After re-entering the rankings last year in 17^th place, Skores has secured another spot in the 2025 Power Affiliates. Shortly after last year’s rankings were published, the company secured minority investment from private equity firms Stags Participations and MI3 as part of a leveraged buyout. The group also secured new structured debt agreements with leading French banks.

The firm saw additional growth last year when compared to 2023, with a 10% increase in traffic, 17% growth in first-time depositors, 20% rise in turnover and a jump in EBITDA of 25%. Skores opted to forgo new market launches to focus on growth in existing markets such as Latam and the US. The affiliate rolled out its Sportytrader app internationally, available in nine languages including French, Brazilian and Italian. Last year, Skores won best sports affiliate at the EGR Operator Awards for the fourth time, its first win since 2021.

17. Already Media (New entry)
HQ: Poland
Key executive: Alina Famenok
Access to financials: Yes

A new entrant in the Power Affiliate rankings, Already Media’s financial performance as shared with BDO shows a business in the ascendancy. The group launched more than 1,200 affiliate sites across key emerging markets in Latam, Asia and Africa last year. Brazil, India and South Africa have all been namechecked as big contributors for the affiliate. Having been established three years ago, Already Media is continuing to target rapid growth.

The business is also a keen supporter of AI technologies and developing in-house tools to help drive traffic. The company opened a new Warsaw, Poland, HQ in July last year and is spearheaded by CEO Alina Famenok, who is supported by COO Nata Shchedrina and chief brand officer Maryna Yuschenko, who both joined the C-suite last year. On M&A, Already Media acquired PokerListings from Acroud and has set in place a revamp of the platform. It also snapped up Sports Khabri in India.

18. Media Troopers (New entry)
HQ: Malta
Key exectuve: Shmulik Segal
Access to financials: Yes

Having been earmarked as an affiliate to watch out for in 2023 by EGR, Media Troopers has made the full list for the first time. Having been co-foudned by Shmulik Segal and Benjamin Truman in 2019, the US-facing business has continued to improve and impress in the states. Market launches in North Carolina, Nevada, Maine and Vermont last year expanded the business’ footprint further, too. The company claims to have secured licences in all available US states. Financials shown to BDO show Media Troopers has delivered well across revenue, EBITDA and profit. Media Troopers has more than 50 staff across multiple offices, with Segal continuing to lead the company on a day-to-day basis. An expansion into sweepstakes last year to capture some of the growing attention the vertical is receiving could turn out to be a shrewd play, should the sector avoid legal and regulatory backlash in the coming months and years.

19. Acroud (19)
HQ: Malta
Key executive: Robert Andersson
Access to financials: Yes

Financially, revenue declined slightly in 2024 to €38.6m but did grow organically by 3.8% year on year. Describing the year as one of “transformation”, Acroud deems 2025 to be one of “execution”. The announcement of the completion of the affiliate’s comprehensive restructure saw CEO Robert Anderson state: “We are now operating with a stronger financial position, a clear strategic direction and an enhanced ability to scale profitably”. As part of the restructuring, the firm also paid €12m for the remaining 49% of Acroud Media from RAIE Media. However, chair Kim Mikkelsen stood down in the middle of November, having taken the position in February. Stating his reason, Mikkelsen said he was focusing on being an investor in the affiliate. Peter Åström, a board member since 2019, assumed the role of interim chair until the next AGM.

20. Betting Hero (New entry)
HQ: US
Key executive: Jai Maw
Access to financials: Yes

Last year was special one for Betting Hero’s original co-founders Jai Maw and Jeremy Jakar after the duo teamed up with GeoComply to lead a management buyout of the US-facing affiliate from FansUnite Entertainment in a $37.5m deal. Maw, who is CEO, and Jakar will hold 60% of the group while geolocation market leader GeoComply has taken a 40% stake. GeoComply will supply the duo with sustained strategic support as part of the arrangement. Betting Hero has been operational for seven years and is live in 20 US states, most recently launching in Florida and North Carolina last year. Two new product launches in the shape of high-value player concierge service Hero VIP and HeroGPS, a tool for sports teams and leagues to benefit from sports betting affiliation, were brought to market. Financials shared showed growth too, while FTDs were also up. The business passed the 500,000 FTDs mark last year in another milestone moment.

21. Checkd Group (20)
HQ: UK
Key executive: Lee Struggles
Access to financials: Yes

Double-digit revenue increases across media, international and development helped the affiliate maintain its spot in the top 25. The Manchester-based firm also saw its social media following surpass the three million mark. With no market launches throughout the year, the focus instead was on driving organic growth in the UK and US. Checkd launched two new products in its SmartPicks app, formerly the FlashPicks app that launched in 2023, and the Betting Hub app. Checkd Media won several EGR awards in 2024, taking first place in the EGR Marketing and Innovation Awards for innovation in marketing campaign and affiliate marketing campaign of the year.

22. Web International Services (21)
HQ: Malta
Key executive: Paul Scheuschner
Access to financials: Yes

After its 2022 debut in the rankings, Web International Services (WIS) has secured a spot as a top 25 affiliate for the third consecutive year. While the company maintained flat revenue figures year on year, WIS enjoyed increases in both EBITDA and profit during 2024, with each vertical rising 26% and 30%, respectively.

The Malta-based brand’s name recognition grew significantly throughout the year, leading to its social media following more than doubling. WIS added to its workforce with senior positions, namely hiring Josh Camilleri Briffa, formerly of Casumo and Catena Media, as its new head of people in August 2024. James Byrne, another former Catena Media employee, also joined WIS in the same month as head of content.

23. iGaming Nuts (24)
HQ: UK
Key executive: Adam Bielinski
Access to financials: Yes

For a third successive year, and after landing 24^th in last year’s list, iGaming Nuts finds itself once again in the rankings. The London-based company set about expanding its presence in the newly regulated Brazil market, striking a partnership with Apostas Legais.

The Brazil launch helped to bolster the success the affiliate experienced in both the Netherlands and Poland last year. Not satisfied with its current market share, the firm has dedicated a large amount of time to the upcoming launch of its UK-facing product, igamingnuts.com.

The company’s efforts to grow its digital footprint ended up paying dividends, with a surge of new social media followers generating an increase in the number of first-time depositors across the year.

24. Vita Media Group (23)
HQ: Denmark
Key executive: Jimmi Meilstrup
Access to financials: Yes

A back-to-back winner of casino affiliate of the year at EGR’s Operator Awards between 2022 and 2023, Vita Media Group continued to prove its calibre when it was shortlisted for the prize once again in 2024.

The Copenhagen-based outfit, which was placed 23^rd in 2024’s rankings, also made the shortlist for UK and Ireland affiliate of the year in EGR’s inaugural Europe Awards in March 2025. November 2024 represented a milestone for the company, marking five years since the opening of its second office in Skopje, North Macedonia.

Vita Media Group found itself in good financial health over the last 12 months, enjoying a double-digit increase in revenue year on year. This was in part aided by the launches of affiliate platforms Spinheroes and Bettingheroes across multiple markets including Mexico, Portugal and Colombia. The company also has an established presence in countries including Peru, Spain and the Netherlands.

25. TAG Media (25)
HQ: UK
Key executive: Tom Galanis
Access to financials: Yes

After propping up the 2024 rankings at number 25, a major highlight for TAG Media last year was the launch of its Tag Connect product, aimed at assisting operators to connect with affiliates in markets worldwide.

In addition to helping operators widen their global reach, TAG Media was very productive with market expansion of its own. The affiliate signed partnerships with M88 and BetVictor in Asia.

This accompanied its newly upgraded Punters Lounge affiliate portal debuting in both the Irish sports betting and Swedish online casino markets, as well as partnering with LiveScore Bet in Bulgaria. Additionally, the firm completed the acquisitions of third-party development teams in Madagascar and Nepal to help bolster its technical capabilities.

North Star Network
HQ: France
Key executive: Julien Josset

North Star Network returns to the Ones to watch list for a second consecutive year after a slew of M&A moves throughout 2024 helped push the French firm forward. In February 2025, the company acquired Bojoko in a deal which could be worth up to 4.5x of Bojoko’s 2025 adjusted EBITDA. That move capped an M&A pipeline which saw deals for Latam-facing AlAireLibre, UK brand MrFixitsTips, Brazilian site Um Dois Esports and Nigerian football platform Soccernet.ng last year. A seven-figure deal for SportsMole.co.uk was also sanctioned. A steady flow of inorganic growth could well see North Star Network jump into the rankings properly next year.

WagerWire
HQ: US
Key executive: Zach Doctor

US-facing WagerWire frames itself as a marketplace for users to buy and sell bets and has partnerships in place with major US sportsbooks, including BetMGM, FanDuel, Caesars and Fanatics. Its parent company, Wire Industries, secured several high-profile investors in December, including former Pinnacle CEO Paris Smith and the operator’s co-founder George Molsbarger. The capital will be deployed for international expansion, with ambitions of becoming the StubHub of sports bets. Wire Media Group, a division of the parent company, also operates specific media networks and affiliate marketing divisions.

Sportradar
HQ: Switzerland
Key executive: Carsten Koerl

Sportradar makes the Ones to watch list in less-than-usual manner, having snapped up XLMedia’s US-facing assets in a deal that could have been worth up to $30m. After an initial $20m outlay, New York-listed Sportradar had agreed to pay XLMedia up to $10m in earnouts based on 2024 performance. However, the firm will pay just $1m extra as part of the deal to take on assets such as Sports Betting Dime and Saturday Down South. The deal spelt the end of an era for XLMedia, which, having sold its European and Canadian assets to Gambling.com Group last year for $42.5m, will wind up in November. Founded in 2008, XLMedia had been a staple of the Power Affiliate rankings. As for Sportradar, it is understood the acquired traditional affiliate assets will be combined with the group’s existing ad:s marketing service to deliver a holistic approach to customer acquisition and retention for operator partners.